Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Property market

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Come this weekend, Sydney's North Shore suburb of Killara will see the opening of a residential project launch called Octavia by Roxy Pacific Killara.
Octavia is located at 6A-8 Buckingham Road, and on completion will have 43 dwellings in combinations of one, two and three bedroom apartments in two buildings.
The development is a short walk to Killara Train Station and local amenities and close to shopping destinations of Gordon, Chatswood and Macquarie Centre.
The buildings are in Killara High School catchment and close to private schools.
The display is open on Saturday and Sunday 2pm - 4pm.
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Residential project Octavia in Sydney's Killara set for launch

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Ballarat, Victoria’s largest inland city, figures in various positions from rising market to starting to decline in the HTW property clocks for February and March, and like the rest of the Australian economy, the residential market there will not be without its challenges in 2016.
Valuation firm Herron Todd White’s property clock is a simple broad brush means to suggest where property markets are as at February 2016 and what direction prices are moving in.
<a href="https://www.propertyobserver.com.au/images/2016/03/15/Screen%20Shot%202016-03-15%20at%209.42.52%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2016/03/15/Screen%20Shot%202016-03-15%20at%209.42.52%20AM.png" alt="">
Macro economic factors such as the success of Australia’s transition from a resource driven to a service-driven economy, the mood of the various regulatory bodies and the ability of the elected elite to remain united behind one leader will play a major hand in its fortune, says the report.
Locally, the direction and pace with which the market door will swing will depend on the continued state governmental inclination to decentralise Victoria, in addition to the continued popularity and population growth of the area and the local economy’s success. 
<a href="https://www.propertyobserver.com.au/images/2016/03/15/Screen%20Shot%202016-03-15%20at%209.43.05%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2016/03/15/Screen%20Shot%202016-03-15%20at%209.43.05%20AM.png" alt="">
The good news for the area is that none of these drivers appear at present poised to pull the plug on the place. 
The bad news is, nor do they elicit an inclination to provide us with a path to the promised land, says HTW.
“And so the great unwashed are left to wake up, frock up and front up. The fundamentals of the residential market are sound if not strong, yet only the most bullish would foretell a 2016 Ballarat boom. So how will it play out? 
“The year will play out as tug of war between positive local sentiment and what will be on balance, at best, a macro economic climate,” says HTW. 
As usual, the property with the greatest chance to grow will be that with limited supply close to the CBD such as Ballarat Central, Lake Wendouree, Soldiers Hill, Black Hill and Golden Point. Areas with significant challenges will be those with oversupply issues such as the new estates in Delacombe and Lucas.
The strong history of Ballarat provides a sought after niche with period housing, particularly Victorian dwellings circa 1900. Areas likely to prosper from this niche market are Golden Point, Black Hill and Ballarat East. Period homes in these areas provide a stable investment outlook with driving factors that include affordability and proximity to the CBD, transport and sporting facilities as well as limited supply compared to the new estates on the city fringes with modern housing facing no limit in supply. These suburbs provide an inexpensive option for good quality period homes, close to the city centre and ripe for gentrification. Well-renovated period homes fetch a premium within the Ballarat residential market.
There is strong evidence of gentrification in Soldiers Hill with property quality and prices continually improving. With good quality renovations and the location of these suburbs, rising property values are likely in the future.
On the outer edges of Ballarat, Buninyong presents an opportunity with good local facilities and close proximity to Ballarat. Buninyong provides heritage properties with a rural township atmosphere and is becoming a sought after location because of these factors. 
At present, Ballarat has seen little development of reclaimed spaces, such as factory conversions, due to a limited demand for apartment living in regional areas. It is unlikely the apartment market in conversions of this type would have high demand in the foreseeable future, however, smaller scale buildings such as churches provide more of a lower density lifestyle choice for Ballarat.
The median price for houses in Ballarat at the end of 2015 was $308,750, according to CoreLogic RP Data. There was not data for units in the city.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/03/15/ballarat2.jpg" alt=""> 
As an example of properties sold around the median, a four-bedroom house at <a href="https://realestateview.com.au/real-estate/8-leroy-street-ballarat-vic/property-details-sold-residential-8743834" target="_blank">8 Leroy Street</a> (above) was sold for $335,000 in Ballarat, as per realestateview.com.au. 
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Ballarat's tug of war between local positive sentiment and macro-climate: HTW

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Residential property values in Sydney, Melbourne and Adelaide increased this week to the last, according to CoreLogic RP Data, who found values stayed flat in Brisbane and increased 0.1 percent in Perth.
Melbourne property has had a year to date change so far of 3.7 percent.
<a href="/images/2016/03/14/Screen%20Shot%202016-03-14%20at%201.45.52%20PM.png" target="_blank">Click to enlarge</a>
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Residential property values in Sydney, Melbourne and Adelaide: CoreLogic RP Data

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A recent survey of around 321,000 first time buyer households has found the biggest barriers to buying are high house prices (52 percent) and finding the right property (24 percent).
The latest report by consulting firm Digital Finance Analytics, The Property Imperative 6, featured results from the March 2016 DFA Household Survey and  noted 60 percent of households will need to borrow more than they can currently obtain to transact, whilst 62 percent of households will consider using a mortgage broker to assist with the finance arrangements. 
<a href="/images/2016/03/11/Screen%20Shot%202016-03-11%20at%202.18.04%20PM.png" target="_blank">Click to enlarge</a>
 
<img src="/images/2016/03/11/Screen%20Shot%202016-03-11%20at%202.18.04%20PM.png" alt="">
The survey found more first time buyers in Sydney are considering or have bought a unit, with the preference for a house dropping in Melbourne and Brisbane.
DFA founder Martin North said the traditional wisdom is that first time buyers are sitting out of the property markets, because prices are high, loans harder to get, and confidence is falling. 
"However, one of the most significant developments surrounding first time buyers is that many more are now going direct to the investment sector," he said.
"The number of first time buyers are still sitting at around 13,000 a month in total, still well below the peaks in 2009. Our surveys indicate strong FTB investor appetite. The changed underwriting requirements however are having an impact. 
<a href="/images/2016/03/11/Screen%20Shot%202016-03-11%20at%202.16.50%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/11/Screen%20Shot%202016-03-11%20at%202.16.50%20PM.png" alt="">
 "There are a number of drivers to this trend. First, most first time buyers were unable to afford to purchase a property to occupy, in an area that made sense to them and were being priced out of the market. 
"Next, many were anxious they were missing out on recent property gains, so decided to buy a less expensive property (often a unit) as an investment, thanks to negative gearing, they could afford it. They often continue to live at home meantime, hoping that the growth in capital could later be converted into a deposit for their own home – in other words, the investment property is an interim hedge into property, not a long term play. 
"Some are also teaming up with friends to jointly purchase an investment, so spreading the costs. In fact, about one third who purchased were assisted by the Bank of Mum and Dad, and would consider an investment property by accessing their superannuation for property investment purposes, a bad idea in our view." 
"First time buyers are split between looking for a house or a unit (in Sydney more are looking for a unit). A greater proportion (21.5 percent) this time were simply not sure what to buy, or where to buy, a rise from 4 percent in 2013. 
"Putting this together, we conclude that first time buyers are reacting to the current house price boom in logical ways. They are however being infected by the notion that property is about wealth building, rather than somewhere to live. This notion, which served previous generations quite well (once they were on the property escalator), may be tested if interest rates rise later, or property prices fall from their current illogical stratospheric levels," he said.
<a href="/images/2016/03/11/Screen%20Shot%202016-03-11%20at%202.15.17%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/11/Screen%20Shot%202016-03-11%20at%202.15.17%20PM.png" alt="">
 
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<img src="/images/2016/03/11/Screen%20Shot%202016-03-11%20at%202.13.27%20PM.png" alt=""> 
For more information, <a href="https://www.digitalfinanceanalytics.com/blog/latest-dfa-household-survey/" target="_blank">click here</a>. 
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Strong first time buyer investor appetite: DFA's Martin North

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Homes in the Sydney suburbs of Hunters Hill, Canada Bay and Ku-ring-gai are the top council areas with the most valuable real estate assets, according to a new report by Aussie Home Loans and CoreLogic RP Data.
The report found homes in Hunters Hill have an average equity level of 72.3 percent or $878,481, then Canada Bay at 70.2 percent and Ku-ring-gai with 69.2 percent.
Mortgaged homes across NSW have an average of 56.6 percent equity or $358,763.
Aussie executive chairman John Symond said the data confirms that NSW property has been a great wealth creator for owners, compared with other asset classes and property in other states across Australia.
“I believe the best investment both for security and lifestyle is still real estate and I see no reason why this will change over the next decade, especially in view of the lower interest rate climate, lack of housing supply and continuing population growth”, said.
"Fast growing Sydney council areas dominate the survey as property prices have risen at a compounding rate of 8.3 per cent over the last 20 years. 
<a href="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%204.47.59%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%204.47.59%20PM.png" alt="">
Councils in the Upper Hunter Valley had the lowest average home equity within New South Wales, especially Muswellbrook and Singleton.
CoreLogic RP Data research director Tim Lawless said Sydney is leading the state in home values as the population grows in the city, while many regional centres are facing neutral or falling population levels.
“The figures show that areas close to Sydney’s CBD have generally performed better as the population becomes more compressed with more medium to high density dwellings”, he said.
Average level of home equity – state by state percentages and dollar values
<a href="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%204.45.19%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%204.45.19%20PM.png" alt="">
Download the free <a href="https://www.aussie.com.au/home-loans/property-reports/home-equity" target="_blank">Aussie/CoreLogic Housing Equity Report here</a> or visit aussie.com.au. 
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Sydney's Hunter's Hill, Canada Bay lead councils with most valuable real estate

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A drop in the number of home loans taken in January and a big fall in the average loan size taken by first home buyers given falling or easing house prices highlights the prospect of greater home loan affordability in 2016, according to the head of banking business act., Amanda Watt. 
Over the month of January, the value of new home loans taken by property buyers dropped 3.4% to $31.9 billion, according to new data from the Australian Bureau of Statistics (ABS). The value of home loans for owner occupiers dived 4.3% to $20.5 billion in January from December while the value of home loans taken by investors also fell by 1.6% to $11.4 billion as buyers withdrew from the property market. 
Reflecting greater home loan affordability, the average loan size for first home buyers fell by $9,300 to $338,800 between December and January. The average loan size for all owner occupied housing commitments fell by $5,400 to $372,400 for the same period. The overall number of home loans taken by owner occupiers in January plunged 3.9% to 55,786. 
“While January is traditionally a slower month, these are still positive signals. Home buyers will welcome any drop in funds needed to buy their first home or make a property investment and the latest housing finance data highlights that buyers borrowed almost $10,000 less to buy their first home in January,” said Watt. 
“While the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments was unchanged at 15.1%, the good news is that growth in house prices has slowed in some cities while prices have dropped elsewhere, so people are needing to borrow less to buy,” said Watt.  
Fixed-rate loans, as a proportion of all new home loans, rose to 13.6% in January from 12.9% in December, as borrowers took advantage of low fixed rates, which have in some cases fallen below variable home loan rates due to downward pressure on wholesale market interest rates. 
act. is an innovative banking service that redirects profits back into social projects. For each product act. has, including home loans, act.allocates ‘impact dollars’ – real dollars taken from the profit it earns – and it gives them back to its customers, who can then donate to a community-focused project of their choice listed on letsact.com.au. 
act. recently won Money magazine’s 2016 Best of the Best award for Best Innovative Banking Product. 
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Positive signals in January lending: act

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Over the coming months, rental rates could begin to fall on an annual basis due to new supply in the market, going by the latest release of the monthly CoreLogic RP Data Rent Review results for February.
“With construction activity set to peak over the next 24 months, and with many new properties still to settle, there is a real possibility that rental rates will fall over the coming months," said research analyst Cameron Kusher.
“Based on our expectations, landlords have little scope to lift rental rates while for renters, it potentially means more surety in securing accommodation and the potential to upgrade into a higher level of accommodation for a similar cost.”
He said the cause of the current slowdown in rental growth was falling wages, excess rental supply in certain areas and lower rates of population growth and population mobility which was hurting demand for rental accommodation.
Here are the February findings:
Capital city rental rates continue to record no change over the year
Weekly rents across the combined capital city measure increased 0.3% in February, however, rents were unchanged over the past 12 months 
Rental rates have increased over the year in Sydney (+1.5%), Melbourne (+2.2%) and Canberra (+1.6%) and are unchanged in Hobart.
Rents have fallen over the year in Brisbane (-0.7%), Adelaide (-0.4%), Perth (-8.4%) and Darwin (-13.3%).
Currently, combined capital city rental rates are $488/week for houses and $467/week for units.
CoreLogic RP Data analysis shows rents across the combined capitals rose by 0.3% in February 2016. Rental rates increased over the month in all capital cities except for Perth and Darwin.
Results Summary:
Dwelling rental rates across the combined capital cities have not moved and continue to sit at now $485 per week for the past year; at the same time last year rental rates had increased by 1.7% highlighting that the slowdown in rental conditions has been quite sharp over the year.
Rental rates in Brisbane, Adelaide, Perth and Darwin are currently experiencing some of their largest annual falls on record.
All capital cities are experiencing annual rental changes which are well below their decade average levels.
 
<a href="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%203.26.45%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%203.26.45%20PM.png" alt="">
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Rental growth rates continue to show their weakest performance since 1996: CoreLogic RP Data

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Property sale numbers fell in Brisbane over the past three months, the latest research from Brisbane Cityscope shows. 
The last three months to the beginning of February recorded 16 sales for a total of nearly $428.3 million, with $394.4 million for commercial, $300,000 for commercial strata, $12.9 million for retail, $1.2 million for retail strata and $17.6 million for other.
In comparison, the three months to the beginning of November had 23 sales for a total of $209.9 million, with $131 million for commercial, $700,000 for commercial strata, $53.7 million for retail, $5.7 million for retail strata and $13.5 million for other.
The 12 months leading up to the beginning of February 2016 recorded 74 sales for a total of over $1.93 billion, significantly higher than the same time period a year earlier.
<a href="/images/2016/03/7/Pulse-BNSalesGrid-580x246.gif" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/7/Pulse-BNSalesGrid-580x246.gif" alt="">
The three most significant sales recorded this quarter were:
▪ Mineral House, 41 George Street, was sold by QIC Investments No. 3 Pty Ltd and QIC Infrastructure Management No. 2 Pty Ltd for $159 million. The sale represented an initial yield of 8.77% on an advertised passing income of $13.93 million (net). Chesterton International and Colliers International brokered the deal. Mineral House is a 27-storey office building which was built in 1979.
▪ 313 Adelaide Street was bought for $114 million by Gref Brisbane Pty Ltd on behalf of a German fund managed by Deutsche Asset &amp; Wealth Management. The sale, through CBRE and JLL, represented an initial yield of around 7% on a passing income of $7.98 million.
▪ 201 Charlotte Street was bought for more than $81.5 million by Perpetual Corporate Trust Limited on behalf of Fortius Funds Management Pty Limited and BlackRock Investment Management (Australia) Limited. Chesterton International and Evolution Capital brokered the deal.
<a href="/images/2016/03/7/Pulse-BNSalesChart.gif" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/7/Pulse-BNSalesChart.gif" alt="">
Properties currently listed for sale include:
▪ Unit 3, Qantm House, 138-140 Albert Street – a 369 sqm unit, comprising the entire first floor. For sale with an asking price of $2 million; agent, K2 Private (Stuart Moody).
▪ Unit 1 and unit 2, Northpoint, 239 North Quay – a 153 sqm commercial unit on the ground floor. For sale with an asking price of $2.5 million; agent, Tewksbury Commercial Real Estate (Peter Tewksbury and Darren Lucchese).
▪ Unit 6, 183 North Quay – a 572 sqm commercial unit, comprising the entire fourth floor. For sale with an asking price of $2,300,000; agent, Blocksidge (Christopher Finn and Paul De Luca).
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Brisbane records fewer commercial deals in quarter to Feb, but value up: Cityscope

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The latest doomsday forecasts for Australian real estate call to mind the shameful history of overseas spruikers and local economists in getting it spectacularly wrong on house prices.
There’s nothing new in individuals with ulterior motives (usually seeking publicity for a seminar tour, new business venture or a book launch) getting acres of free mileage by predicting our markets will collapse. The 60 Minutes debacle is merely the latest.
I note that the nation’s worst forecaster of property trends, academic Steve Keen, has publicly admitted recently that he got it “hopelessly wrong” with his price forecasts. It’s about time - Keen famously predicted in 2008 that Australian house prices would fall 40% in 2009. Prices rose that year and in the years since Keen has rehashed his predictions in various guises with different time frames but with the same result – he’s been wrong every time. Now he has written a column for Business Spectator which says: “I was hopelessly wrong on house prices. Ask me how.”
But Keen has lots of company at the bottom when it comes to faulty forecasting, sometimes perhaps for dodgy reasons. 
One of the worst examples was US doomsday specialist Harry S Dent who came to Australian in 2011 for a seminar tour and sought (and received) publicity by predicting our home values would fall 40% in 2012. He advised Sydney owners to “sell their excess real estate”. We all know how well that forecast worked out.
But Dent was back in Australia two years later for another lucrative seminar tour and again went to the media for some free mileage. He said house prices would crash “some time in 2014”, with values falling at least 27% in Sydney and Melbourne. The market made a fool of him again.
Given the state of Australia media, I have no doubt that if Dent shows up again next year, he will make the same style of prediction and will be handed another round of massive national publicity.
Many others have come to our shores and used the Armageddon formula of generating publicity for their venture.
Little-known US spruiker Jorgan Wirsz suddenly became well-known in 2012 by forecasting a “bloodbath” in Australian real estate, with home values tipped to fall 60% in 2013. He also said land values would drop 90%.
Think for a moment what that means. He was suggesting that residential land in Australia would be almost worthless. Nothing remotely like has ever occurred in the history of the world, not even in the worst basket-case economy post-GFC. But Australian media chose to give these ridiculous claims credibility. And of course they were subsequently shown to be nonsense.
There have been many others, including another US spruiker called Jeremy Grantham who claimed in 2010 that the “Australian housing bubble” would burst that year. 
There also have been plenty of local commentators, mostly economists who don’t understand the dynamics of Australian real estate, who have forecast significant declines.
Morgan Stanley’s Gerard Minack said in August 2010 that property was 40% over-valued and the bubble was about to burst.
AMP’s Shane Oliver, who regularly calls it wrong on real estate prices, claimed in 2005 that homes were grossly over-valued and there would be no growth anywhere in Australia for the next decade. Those 10 years have come and gone, and I have to ask: How did that one work out for you, Shane?
Oliver was in the media again in June 2012 claiming that house prices were “over-valued’ and “chronically weak” and were heading for “a sharp fall”. Ooops, again.
Commonwealth Bank chief Ralph Norris said in November 2011 that the sovereign debt crisis in Europe had put Australian house prices at risk.
Prosper Australia claimed in August 2011 that Melbourne was about to experience “a US-style property crash with price falls of 30%”. (Those who suggest Australia must decline because it happened in the US appear to be unaware that US markets dropped for clear reasons, and those circumstances don’t exist in Australia. 
Michael Power of Investec declared in September 2012 that Australian house prices would fall by up to 20% by the end of 2014.
The Herald Sun ran the headline “Prices could fall as higher interest rates bite” based on comments by CommSec’s Craig James. (This notion that rising interest rates means a market crash is quite prevalent, but there is historical evidence to support the idea.)
Citibank economist Josh Williamson said in June 2013 that house prices would peak in March 2014 and fall thereafter. Propell National Valuers put out a media release in June 2014 declaring the end of the Sydney boom and, around the same time, Morgan Stanley analyst Malcolm Wood also called the end for Sydney, saying:” If you’re an investor, you’ve missed the boat.” 
Fringe dweller Leigh van Onselen, who has a lifetime of raging against real estate, stated in February 2012 that the “slow melt” in Australian house prices would continue. 
Another guerilla-style opponent of all things real estate, Kris Sayce, shouted in March 2011 that “the value of your home could fall 61% the minute interest rates start rising”.
The list goes on. And there’s a clear pattern. Since the start of the 21st Century, claims of markets collapsing, bubbles bursting and prices disintegrating have been an almost weekly occurrence. Journalists never seem to tire of doomsday stories.
They’ve all been wrong. And they’ve been wrong for clear reasons. Australia is not in recession, it does not have high unemployment, we don’t have a vast oversupply of dwellings nationwide and our banks don’t lend recklessly. We would need all of those circumstances to fall into alignment, as they did in the US around the time of the GFC, before our property markets would be in danger.
Property Observer would welcome a response from any of those named to give the context on their call.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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Company at the bottom for faulty market forecasters: Terry Ryder

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Clinical nutritionist and wellness coach Jessica Sepel and her husband Dean Steingold, the co-founder of Productify, have quickly sold their Darling Point apartment.
The couple bought the 90 sqm, two bedroom apartment for $923,000 just under two years ago. The couple, who married in late 2015 after meeting in Johannesburg six years ago are off to Los Angeles.
<a href="https://www.realestate.com.au/property-apartment-nsw-darling+point-121757090" target="_blank">Ray White Double Bay listing agent Gavin Rubinstein </a>was expecting between $1.2 million and $1.25 million for the sale with the price remaining undisclosed.
The buyer has also remained unconfirmed, however Gavin suggested the property would appeal to first homebuyers, investors and downsizers.
Jessica put her Bachelor of Health (specialising in Nutritional Medicine) to good use and is now a blogger and author and aims to empower clients to make good choices every day.
Dean's company Productify has built a B2b service that specialises in sharing product information between online retailers and their suppliers. 
This article was first published in the Saturday Daily Telegraph.
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